Weeks after securing a large contract with Walmart, financially challenged electric vehicle startup Canoo, the company with plans for a manufacturing plant in Pryor, Oklahoma, reported growing second quarter losses. Canoo also is moving headquarters to Bentonville, Arkansas but its quarterly report revealed a loss of $164.4 million or 68 cents per share. It …
Gas prices continue their drop as national average is now less than $4
After all-time high prices for gas across the country earlier this spring – sending national and state averages above the $5 per gallon mark for the first time in history – the national average has dropped below $4 Thursday. Price averages across the U.S. peaked at $5.01 on June 14. Now, for the first time …
Enverus rig report shows growth nationally and in Anadarko Basin
The U.S. rig count rose by six in the last week to a total of 832 as of Aug. 10, according to Enverus Foundations. The count is down 1% in the last month, but up 45% YOY. Activity reached as high as 840 rigs during the week, two rigs lower than the prior week’s …
Headlines of other energy stories
** A Terrebonne Bay oil spill on the first day of Louisiana’s inshore shrimp season has taken a toll on some local fishermen, who say they received no warning of the incident until many hours after it occurred and as a result ended up with fouled nets and oiled boats. ** Berkshire Hathaway Energy is set to …
34-square mile oil development by Occidental okayed by Colorado regulators
A huge oil and gas development by Occidental Petroleum in Colorado’s oil-rich Weld County was approved this week by state regulators. Occidental had filed the request in the spring, stating it covered at least 34-square miles on a single ranch. The company claimed it was one of its highest priorities internationally. Regulators had asked …
Crude oil rebounded Wednesday while OK energy stocks lost and gained
Helped by encouraging figures on U.S. gasoline demand and lower-than-expected U.S. inflation data, oil prices rose on Wednesday. Oklahoma energy stocks ended the day with some big gains and some big losses. West Texas Intermediate crude for September delivery went up $1.43 to $91.93 a barrel on the New York Mercantile Exchange. Global benchmark Brent …
Strong 2Q earnings leads Ascent Resources to increase drilling in the Utica
Oklahoma City’s Ascent Resources Utica Holdings, LLC says it’s accelerating its drilling activity n the Utica play following results of its second quarter earnings. The company reported $285 million in net income, adjusted net income of $277 million and adjusted EBITDAX of $477 million. It also incurred $272 million of total capital expenditures including …
ONEOK seeks more investors
Leadership at ONEOK, Inc. plans to reach out to more potential investors at two conferences this month. The company will participate in the Aug. 11 Goldman Sachs Power, Utilities, MLPs and Pipelines conference. ONEOK management will participate in a fireside chat session at 8:45 a.m. Eastern Daylight Time (7:45 a.m. Central Daylight Time) on …
North Dakota fights enviros lawsuit against lease sales on federal lands
The state of North Dakota has won a federal judge’s approval to intervene in a lawsuit by environmental groups who are fighting the government’s resumption of oil and gas lease sales on federal lands. The President’s April announcement of resuming the oil and gas lease sales applied to 23 parcels in eastern Montana and …
Devon’s $1.8 billion acquisition of Denver energy firm means expanded drilling in South Texas
Devon Energy made a giant step in its investments in Texas oil and gas fields with this week’s announced $1.8 billion acquisition of Validus Energy of Denver, Colorado. Validus is an Eagle Ford operator and the deal is expected to close at the end of the third quarter of this year with an effective …